1318 Avenue A is a 2020 construction multifamily asset offering strong in-place occupancy, improving operations, and flexible acquisition terms.
• Occupancy: 93%
• Condition: Modern construction with ongoing interior upgrades
• Management: Recently transitioned to direct owner management
Operational Momentum
Over the past six months, monthly NOI has risen significantly following the owner’s assumption of management responsibilities. During this transition:
• Underperforming tenants were removed
• Leasing quality has improved
• Occupancy remains strong at 93% despite tenant turnover
This demonstrates both operational stabilization and improved tenant profile without sacrificing occupancy — a strong indicator of durable demand and disciplined management.
Capital Improvements
A flooring upgrade program is currently underway:
• Units are being converted to vinyl flooring upon tenant turnover
• 4 units have already been completed
• 6 units will feature vinyl flooring by the end of February
This phased approach modernizes interiors, enhances durability, and supports continued rent growth with minimal operational disruption.
Financing Advantage
Seller financing available, offering flexible acquisition structuring and potential interest rate advantages relative to conventional financing.